Photo by CC user avtoritetkhv on Pixabay
When you getting ready to purchase your new car, a great deal of research goes into it – you read reviews, comparison shop, develop a list of your “must have” features, and search for the best price. After all, this is a significant investment and you want to be sure you have made the right one for you. Now it is time to think about how you will protect that investment – will you purchase an auto service contract for your new car? Many people take the view that all of their needs will be covered by their manufacturer’s warranty, although some programs offer benefits that aren’t available with many warranties. Importantly, the price to purchase an auto service contract goes up significantly once the manufacturer’s warranty expires, so it is never too soon to think about it. You should definitely do your research to find the best plan – you can start by checking out Omega Autocare reviews. In the meantime, here are some questions that you should ask yourself now.
How long will you have the car?
If you are leasing your vehicle with the intention of “flipping” it in a few years, chances are that you will be able to make do with just the manufacturer’s warranty. But if you are purchasing the car with the intention of keeping it for a number of years, then an auto service contract is definitely a good investment.
What is the repair profile of your car?
Spend a bit of time researching the long-term repair profile for your car’s make and model. If there are known issues that come up at 3 or 5 or 7 years, try to get estimates of how much those repairs cost. Newer models may have resolved some of those issues, but you can’t count on it. Armed with this information, you can make an informed decision about what is the best service contract for your needs.
What is covered?
Be sure to understand what is covered by your contract and what is not, bearing in mind the sorts of repairs you might expect based on your research. It is not always easy to make sense of the formal language employed in contracts, and especially if you are not familiar with the mechanical terms involved, it can be difficult to understand without some assistance. A reputable company will take the time to go through the agreement with you to be sure that there are no unanswered questions. Make sure that you understand what sorts of things can void your policy – for example, some plans exclude repairs on cars that are being used commercially for hauling or snow removal. Make sure that you discuss these sorts of issues with the agent.
Have you shopped for the best plan for you?
You may be offered a plan when you are signing the documentation to purchase your new car. Here too a bit of research will be useful – don’t wait until the last minute to discuss an auto service contract with your salesperson. If you think there is a reasonable chance you will make a purchase, find out who backs the dealer’s contract and the different plan tiers cover. Faced with these sorts of decisions at the moment you are buying the car can be overwhelming, but some research in advance will give you the knowledge you need to make the right decision for you.
All in all, an auto service contract can be a great way to protect your car investment. Just be sure to take the time to ask some basic questions and do a bit of investigation to make sure that you are choosing the right plan for your needs.